The State of Affairs in Russia

[Syt]

All well in Russia!

http://rt.com/business/215507-putin-qa-economy-recovery/

Putin: Russian economy will inevitably bounce back, 2 years in worst case scenario

The Russian economy is to start growing again in 2 years in the worst case scenario, President Vladimir Putin said at his annual press conference. Russia, which is facing recession, is ready to fight the impending crisis, as it did in 2008, he said.

"The economy will grow. And our economy will get out of the current situation,"Putin said, adding that he expected the economy to grow by 0.6 percent in 2014. He said the government will handle the crisis similarly to 2008.

In 2008, Russia along with the much of the rest of the world fell into recession, losing 7.8 percent of GDP in 2009. The Russian economy fared the crisis rather well, and the economy was back on track with 4.5 percent growth in 2010.

Russia's 2014 budget will have a 1.9 percent surplus relative to GDP, despite the turbulent economic situation, the Russian president said

The ruble has been tumbling along with the price of oil, but Western sanctions account for 25-30 percent of the Russian economic crisis, Putin said. US President Barack Obama plans to sign off on a new round of Russia sanctions by the end of this week.

"The situation in the Russian economy is provoked by external factors and the lack of diversification first and foremost."

"The economic situation will force us to diversify our economy," he said, adding that economic adaptation to low oil prices is inevitable.

The president said he hoped the ruble's recovery will persist.

"I hope yesterday and today's exchange rates will be maintained. Is that possible? Whether oil prices will continue to fall, that is possible too."

Putin supports the actions the Central Bank of Russia (CBR) has so far taken to stem the ruble crisis, but criticized the bank for not acting quickly enough.

"I believe the CBR and government are taking adequate measures on the situation. There are questions on the time frame of the measures. On the whole, the direction is right, " he stressed.

On Monday night the CBR sharply increased its key interest rate to 17 percent to try and cap the ruble free fall, and on Wednesday it published a package of measures that are expected to stop the turmoil in the financial markets.

[CountDeMoney]

EMERGENCY
EVERYBODY TO GET FROM CURRENCY

[Razgovory]

I wonder if Putin will still be there in two years.

[Martinus]

I wonder if Putin will still be there in two years.

He will come back stronger than we have ever imagined. 

[Syt]

[CountDeMoney]

I wonder if Putin will still be there in two years.

Don't think for a moment, should the oligarchs even think of challenging him like the one article a couple pages back suggested as a possibility, that Putin wouldn't go Michael Corleone on everybody if he felt he had to in order to survive politically.

[Razgovory]

I wonder if Putin will still be there in two years.

Don't think for a moment, should the oligarchs even think of challenging him like the one article a couple pages back suggested as a possibility, that Putin wouldn't go Michael Corleone on everybody if he felt he had to in order to survive politically.

Oh, I don't.  The loyalty of the army is another question though.  I imagine that the commanders in the Moscow and St. Petersberg military districts have been chosen for loyalty, but I wonder if it'll be enough.  It wasn't enough back in 1991.

[Tonitrus]

Their current MoD is probably one of the most effective, stand-up guys you'd be able to find in Russian circles of power these days.

[DGuller]

Their current MoD is probably one of the most effective, stand-up guys you'd be able to find in Russian circles of power these days.

That's my impression of Shoigu as well.  I wonder how much of it is fact, though, and how much of it is a product of propaganda.  Russian TV has been building him up for 15 years.  In fact, they started building him up right around the same time they started building up Putin.

[Tonitrus]

True.

And if there is anybody who would be a plausible Putin-successor in the future, Shoigu would be the front-runner.  Though he is not much younger.

[The Brain]

I don't worry about Putin.

[CountDeMoney]

I wonder if Putin will still be there in two years.

Don't think for a moment, should the oligarchs even think of challenging him like the one article a couple pages back suggested as a possibility, that Putin wouldn't go Michael Corleone on everybody if he felt he had to in order to survive politically.

Oh, I don't.  The loyalty of the army is another question though.  I imagine that the commanders in the Moscow and St. Petersberg military districts have been chosen for loyalty, but I wonder if it'll be enough.  It wasn't enough back in 1991.

Nobody was able to shovel the kind of money Putin has been in 1991.

[Razgovory]

All the money in the world won't do you any good if the soldiers protecting you make common cause with street protestors demanding you leave office.  Cash protects him from people trying to supplant him within the power structure.  What he needs is keep firm control over all media.  That's probably why the Russians have really clamped down on bloggers and the like.  Putin's power right now relies on his propaganda machine.  It passed the test back 2008.  It will face a much bigger test next year.

[CountDeMoney]

It passed the test back 2008.  It will face a much bigger test next year.

Oh,  bullshit.

And no Timmay-dramatism allowed.

[Razgovory]

It passed the test back 2008.  It will face a much bigger test next year.

Oh,  bullshit.

And no Timmay-dramatism allowed.

They faced an economic slowdown back in 2008.  This one will be more severe.  I don't think Putin is as secure as he wants us to believe.